tag:blogger.com,1999:blog-6616959642391988608.post3670572193248211662..comments2015-08-02T05:02:03.464-07:00Comments on Calafia Beach Pundit: Household balance sheets continue to improveScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger17125tag:blogger.com,1999:blog-6616959642391988608.post-34281943405727315732012-06-11T18:31:27.919-07:002012-06-11T18:31:27.919-07:00Spain&#39;s household balance sheets have also dra...Spain&#39;s household balance sheets have also dramatically improved over the weekend. Bullish!Gloeschihttp://www.blogger.com/profile/10705125909506053628noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-41125893676212024882012-06-11T14:55:49.902-07:002012-06-11T14:55:49.902-07:00Changes in U.S. Family Finances from 2007 to 2010:...<a href="http://www.federalreserve.gov/pubs/bulletin/2012/pdf/scf12.pdf" rel="nofollow">Changes in U.S. Family Finances from 2007 to 2010: Evidence from the Survey of Consumer Finances</a><br /><br />From the Board of Governors of the Federal Reserve System--Federal Reserve Bulletin, dtd. June, 2012.sgt.red.blue.redhttp://www.blogger.com/profile/08132657702786638326noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-48013288724351580622012-06-11T13:56:46.491-07:002012-06-11T13:56:46.491-07:00Income declines 8%; net worth declines by 40%...
...Income declines 8%; net worth declines by 40%...<br /><br />Why is 2012 even on this chart??<br /><br />http://www.calculatedriskblog.com/2012/06/fed-survey-from-2007-to-2010-median.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+CalculatedRisk+%28Calculated+Risk%29<br /><br />Who does one believe anymore?Hanshttp://www.blogger.com/profile/05183141792723754273noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-26947186624227738972012-06-11T12:57:16.056-07:002012-06-11T12:57:16.056-07:00Coincidentally, here is another perspective on hou...Coincidentally, here is another perspective on household balance sheets. Perspective is everything. This perspective is aligned with those worried about the &quot;growing divide&quot; between the haves and have nots. Still, it is what it is. <br /><br />http://www.nytimes.com/2012/06/12/business/economy/family-net-worth-drops-to-level-of-early-90s-fed-says.html?smid=pl-share<br /><br /><br />The recent financial crisis left the median American family in 2010 with no more wealth than they had in the early 1990s, erasing almost two decades of accumulated prosperity, the Federal Reserve said Monday. <br /><br />This vast loss of wealth was compounded by a loss of income, as the earnings of the median family fell by 7.7 percent over the same period. <br /><br />Unsurprisingly, the report is full of grim news, and although it is news from 18 months ago, fresher sources of economic data make clear that most households have since seen only modest increases, at best, in wealth and income.randyhttp://www.blogger.com/profile/16368254229927808998noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-64827049328073470812012-06-11T11:34:12.753-07:002012-06-11T11:34:12.753-07:00@John Perhaps you have not been following the sto...@John Perhaps you have not been following the story closely enough, but since the Nutting story was released it has been thoroughly debunked. The 2009 budget was submitted by George W. Bush but never passed into law. Obama added a $1 trillion &quot;stimulus&quot; to the budget and it subsequently passed. That 2009 budget became the baseline budget to which subsequent spending was compared.<br /><br />Short explanation: Nutting article was complete fantasy. Obama&#39;s $1 trillion deficits belong to Obama.RichmondG30http://www.blogger.com/profile/15406119391866964600noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-2281195369174652632012-06-09T06:35:55.211-07:002012-06-09T06:35:55.211-07:00Fortunately, my networth has not followed the comm...Fortunately, my networth has not followed the common household path...Dr William J McKibbinhttp://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-81698837749186907282012-06-08T17:48:49.359-07:002012-06-08T17:48:49.359-07:00I wonder how that chart would look if we did it on...I wonder how that chart would look if we did it on the basis of something tangible. Instead of dollars, show the household balance sheet in terms of ounces of gold or silver. I think the artificial money printing makes it look good in dollars, but terrible in something tangible.Junkyard_hawg1985http://www.blogger.com/profile/18114117558513498514noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-2880765703486652652012-06-08T12:31:43.172-07:002012-06-08T12:31:43.172-07:00Interesting reading from MarketWatch:
&quot;The O...Interesting reading from MarketWatch:<br /><br />&quot;The Obama Spending Binge Never Happened&quot; (But, he&#39;s constantly blamed for it anyway.)<br /><br />&quot;What people forget (or never knew) is that the first year of every presidential term starts with a budget approved by the previous administration and Congress. The president only begins to shape the budget in his second year. It takes time to develop a budget and steer it through Congress — especially in these days of congressional gridlock.<br /><br />The 2009 fiscal year, which Republicans count as part of Obama’s legacy, began four months before Obama moved into the White House. The major spending decisions in the 2009 fiscal year were made by George W. Bush and the previous Congress.<br /><br />http://articles.marketwatch.com/2012-05-22/commentary/31802270_1_spending-federal-budget-drunken-sailorJohnhttp://www.blogger.com/profile/06365403570563730880noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-12658545562171229722012-06-08T12:30:47.590-07:002012-06-08T12:30:47.590-07:00William,
You simply cannot print your way to pros...William,<br /><br />You simply cannot print your way to prosperity, issue more debt to resolve a debt crisis, and absolve failed institutions of their failures. The consequences are disastrous; more painful than the original medicine given to the patient. I think history will eventually record this quite accurately. Libertarians clearly understand where this is headed even if it takes longer than expected to get there.Public Libraryhttp://www.blogger.com/profile/00017383928897945054noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-61259288065965126802012-06-08T07:56:33.935-07:002012-06-08T07:56:33.935-07:00This comment has been removed by the author.RichmondG30http://www.blogger.com/profile/15406119391866964600noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-17524749354612950222012-06-08T07:55:18.222-07:002012-06-08T07:55:18.222-07:00I think Public Library is right. Four+ years of ...I think Public Library is right. Four+ years of money printing in an attempt to reflate the bubble and make everything look hunky dory does not happen without consequences.<br /><br />With the US annual deficits of $1 trillion as far as the eye can see, how much longer do you think we can maintain effectively 0% long term rates? What happens when the bond buyers go on strike. I&#39;m afraid it will be very unpleasant.RichmondG30http://www.blogger.com/profile/15406119391866964600noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-63380774498555212212012-06-08T06:06:10.543-07:002012-06-08T06:06:10.543-07:00Well stated, Mr Library!
Did anyone noticed tha...Well stated, Mr Library! <br /><br />Did anyone noticed that the debt level is back as well? <br /><br />In the defense of the bulls, we are seeing much more activity in commercial construction this year..<br /><br />But then the industry has all but collapsed in the past five years...Hanshttp://www.blogger.com/profile/05183141792723754273noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-16646315197623387102012-06-08T04:43:20.715-07:002012-06-08T04:43:20.715-07:00Scott, is deleveraging behind this anemic recovery...Scott, is deleveraging behind this anemic recovery? Household debt started growing in the 1980s boom. Did the boom cause an increase in debt, or did the increase in debt fuel the boom? Same for the 1990s and the Bush years. I&#39;ve been taught that debt is not necessarily bad if used for productive purposes that include servicing the debt; i.e. rental real estate. Can we have a booming economy without increasing debt, and is deleveraging now a good thing?mmanagedaccountshttp://www.blogger.com/profile/08188469703346980431noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-56502670220880713412012-06-07T19:10:37.119-07:002012-06-07T19:10:37.119-07:00Public Library
Your comment just reinforced how a...<a rel="nofollow">Public Library</a><br /><br />Your comment just reinforced how an individual&#39;s basic principals and beliefs influence how one interprets facts, the conclusions one reaches, and therefore how one invests, etc.Williamhttp://www.blogger.com/profile/04418491109912775561noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-89737676346375671392012-06-07T14:45:06.282-07:002012-06-07T14:45:06.282-07:00So the Fed, printing endless amounts of paper back...So the Fed, printing endless amounts of paper backed by nothing but a promise, sends out reports on assets values they intentionally try to inflate, and we are supposed to feel good about it? <br /><br />It is obvious which asset class is contributing the most to &#39;Net Worth&#39; and the one most susceptible to an utter collapse stemming from CB ineptitude and hubris.Public Libraryhttp://www.blogger.com/profile/00017383928897945054noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-39815902854994965632012-06-07T14:12:06.853-07:002012-06-07T14:12:06.853-07:00Looks like all is well for households in America.....Looks like all is well for households in America...Dr William J McKibbinhttp://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-65305208171995979922012-06-07T12:31:33.066-07:002012-06-07T12:31:33.066-07:00Improvements in Europe &amp; China would cause an ...Improvements in Europe &amp; China would cause an outflow from the dollar, Treasuries, utilities and corporate bonds. The stock market would rally nicely. Add to that fiscal and monetary responsibility and U.S. stocks will be all the rage again.<br /><br />It is a matter of changed psychology. Investors will be looking out further into the future for a rate of return. They know it will take awhile but the rotation will be obvious, steady, and unrelenting.<br /><br />It is just a matter of when.Squirehttp://www.blogger.com/profile/14088030568579672500noreply@blogger.com